Factoring Agreement Draft Formula In Travis

• Category: Contracts - Factoring
• State: Multi-State
• County: Travis
• Control #: US-00037DR
• Format: Word; Rich Text

Description

The Factoring Agreement draft formula in Travis is a comprehensive legal document designed to govern the assignment of accounts receivable from a seller (Client) to a factor (Factor). This agreement outlines the responsibilities and rights of both parties, ensuring that the Factor purchases accounts receivable as absolute owner, while the Client must adhere to specified credit approvals and reporting obligations. Key features include provisions on the sale and delivery of merchandise, the assumption of credit risks, and the terms of compensation and commission structures. Users are instructed to complete the form with relevant information such as company details and commission percentages. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for navigating financial transactions involving receivables. Additionally, it includes provisions for termination, governing law, mediation requirements, and the handling of notices, making it a versatile tool for legal practitioners involved in commercial finance transactions. By establishing clear terms, this agreement helps mitigate risks associated with credit sales and improves cash flow for businesses.